Certified Professional Public Buyer (CPPB) Practice Test

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What does the term "splitting the difference" refer to in negotiation tactics?

Discussing minor details thoroughly
Offering to reduce the monetary difference
Increasing the initial offer significantly
Maintaining a hard stance during negotiation

The correct answer is: Offering to reduce the monetary difference

The term "splitting the difference" in negotiation tactics refers to the approach where both parties agree to meet halfway between their initial offers or positions to reach a compromise. This method is commonly employed to resolve conflicts or disagreements where each party has a different perspective or value on a particular issue, often revolving around a monetary difference. By proposing to reduce the difference equally, both parties demonstrate flexibility and cooperation, which can help facilitate a successful agreement. This tactic reflects a willingness to compromise and acknowledges the importance of maintaining a working relationship, which is crucial in many negotiation scenarios. In contrast, focusing on minor details, making significant unilateral offers, or maintaining a hard stance often leads to stalemates or unproductive discussions, making "splitting the difference" a more effective strategy for achieving mutual agreement.